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for independents. i think we have time for your point. caller: in a column today it said that clinton's 2001 balance the budget spent $1.94 trillion. today the revenue is $2.67 trillion. spending is $3.76 trillion. we are spending $987 billion more than if we had just increased the 2001 budget for inflation and population growth. i understand about the mores. i am incensed, as i think most voters are -- wars. i am incensed, as i think most voters are. host: the chair of the senate banking, housing and urban affairs committee is in his seat. the ring with secretary donovan is about to begin. -- hearing with secretary donovan is about to begin. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] >> i call this hearing to order. thank you for joining us, mr. secretary. i asked you to testify today because i'm deeply concerned about the recent report that the f.h.a. could potentially need taxpayer support for the first time in its 78-year history. i would like you to help the committee gain insight into the fiscal challenges at the f.h
was elected in 1992 and in the 1993 budget we addressed fiscal responsibility by passing the clinton budget. it was very controversial. in fact it only passed by one vote in the house, and the vice president had the vote in the senate to break the tie. but that budget us on a trajectory towards fiscal responsibility. it was interrupted by a controversy in 1995 when the republicans, using the votes on that budget, picked up a majority in the house and tried to dismantle that budget. president clinton allowed the government to get shut down rather than dismantle the budget. that budget stayed into effect until 2001. in 2001 chairman greenspan was answering questions like, are we paying off the national debt too quickly, should we pay off the national debt. the projections were by 2008 the entire national debt held by the public would be paid off. no money owed to china, japan, saudi arabia. we would have paid off all those debts. all the money would be back in the trust funds by 2013. that's where we were the beginning of 2001, but the republicans talked people into thinking you could pass ta
an economic growth. first during the clinton administration, the top marginal tax rate was raised on the wealthiest individuals and the economy grew at its fastest rate in a generation. it added more than 22 million jobs. during the following eight years, the top marginal rate dax tax rate was lower, but economy never regained its strength from the reviews decade. middle-class families are vulnerable when the recession began at the end of 2007. i hope this hearing is helpful not just in this hearing, but across this country to people who are watching and waiting for congress to act. i will say more at the end about some of our members who are leaving. it is -- it has been an honor for me to serve as chairman of this committee and also served with my friend, kevin brady, as vice chair. he has been great to work with. i hope there'll be bipartisan success in congress. i look forward to working with him as i change seats in the senate for the next congress. i am grateful to our witnesses, whom i will introduce. before i do that, opening statements. >> i think the chairman for the rec
to work, does it? but in the clinton era when the rates went up, the 39.6 from 35 , they paid a little bit more and, guess what, the income boomed. we had 3.8% unploimed. we balanced the budget -- we had 3.8% unemployment. we balanced the budget. they opposed the tax increases in 4-. they said a disaster would result. not a single republican voted for the increases in taxes that president clinton put forward, which ultimately led to a balanced budget and paying down debt for the first time in 50 years. not one of them because they said it would bring economic disaster and instead is brought prosperity. so they brought out that old broken record, they glued it back together. maybe they put it on the -- put it in a digital format or something. but they're playing it again. it's as valid now as it was then. so it's the same old plan, stick it to the middle class, stick it to the seniors and benefit the ultrawealthy in this country. that's not a new plan. that's the same old broken record. the speaker pro tempore: the chair recognizes the gentleman from texas, mr. poe, for five minutes. mr. po
in peace negotiations with other countries or president clinton's global initiative, former presidents have a valuable role in using their experience and knowledge to help the u.s. in both a public and private capacity. the world has changed dramatically since the 9/11 terrorist attacks. the threats to american personnel and interests continue as terrorists raged a war against the united states. arbitrarily limiting the secret service protection to 10 years might have been good after the cold war ended and before the global war on terror begun. in which they're considered targets, we must make sure that the security of our former chief executives are not jeopardized. h.r. 6620 recognizes that those who serve as president are symbols of america and american freedoms and deserve to be protected. there are only a handful of americans who will be called upon to serve this country as president. these individuals represent america not only while serving in office but remain in the public consciousness long after they leave. h.r. 6620 simply recognizes this unique role and reinstates lifetime prot
president clinton was in office, he left this country in the black. the people have weighed in. they've indicated that we want to move forward, we want to put people to work but we want to do it in a fair method of doing it. and that is not cutting programs that impacts the working poor in this country. mr. garamendi: well, you're absolutely correct about that. the proposal to cut medicare benefits is a nonstarter. there are things that can be done in medicare to reduce the costs and much has already been done. i'd like to ask my colleague from the great state of michigan to join us, mr. curson is a new member, came in during a special election. welcome. delighted to have you join us. mr. curson: thank you. i agree wholeheartedly with what's been said so far and the testimony, what i really want to say -- into the mic. what i really want to say is medicare is run more efficiently than nearly any insurance company in the world. they devote less than 2% of its funding to administrative expenses, and you compare that to a private insurance company that costs up to 40% of premiums for in
. >> mark zandi said returning to clinton-era tax rates would hurt the economy but is necessary to get the deficit under control. his comments came at a forum and also bush administration lawrence lindsay and clinton white house chief of staff. >> thank you so much and thank you chairman bachus for turning us and turn it over to peter cook who will moderate our tax panel on tax reform. >> i got a feeling you have to head back to the hill. we hope to come up with some answers and ideas from this panel. we have -- we'll write them down. i'll hand them to your staffer. you hear the mission. we have to come up with some ideas that can pass congress and meet with everyone's approval, so no small task. there are some new faces at the table and again, we want to welcome all of you and go around the table and introduce at least our new faces. we have got the brookings institution who has done a lot on fiscal issues. we have the lindsay group, former economic adviser to president bush. welcome. we have the chairman for the center of american progress. former chief of staff of bill clinton. john
that will make very clear to us to assad, which if he crosses what secretary clinton called the red line and uses these weapons, chemical and biological, there will be grave consequences. essentially the end of his regime. i hope through the deterrence we can stop him from doing so, but i also believe that we as leaders of the world, the united states, has to begin to assemble an international coalition to prevent assad from using the chemical and biological agents against his own people. we have sat too long on the sidelines we are now getting engaged the need for engagement and more than that urgent action is clear and now. and i think we are all saying to president obama who has now stated very clearly there will be drastic consequences for assad and his government if they use weapons of mass destruction. we are with you. there is strong support across congress if the president takes the strong action that's necessary to prevent a very, very historically horrific humanitarian disaster in syria. senator. >> thank you, senator. we do represent a broad range of views from within the senate, the r
. his service as chairman of president clinton foreign intelligence advisory board, i watched him investigate some incredibly delicate and politically sensitive matters. president clinton trusted warren without question to get to the bottom and give him advice free of any personal agenda or partisanship. later as cochairman of the commission of national security with senator hart, he examined the state of homeland defense. he concluded it was terrible. nine months before 9/11, he recommended -- the homeland of security. it was not that he had some magic nearing to look around the corner of time. he looked hard at the facts. he was not afraid to draw the necessary and sometimes lonely conclusions. warren always look at the facts. like any great lawyer, that was his starting point. he was inpatient with ideology. he wanted the evidence and then you would jot his conclusions and chart his course. we would all do well to embrace today -- embrace that today. as a lawyer, he was a champion. he became the go to person for companies who need someone of impeccable and credibility to get to
overturned. it is very similar to what erskine bowles, the former clinton chief of staff, who was the co-leader of the simpson- bowles commission, separate from that commission, mr. bowles testified before the super committee last year and testified at that time. republicans say that their current model is modeled after that offer. the simpson-bowles model has gone on lot of talk in the last two years. it is proposed on democrats in these discussions. on the revenue side, but $800 billion that they are offering, that is the same of what speaker john vader, offered the president in their negotiations -- speaker john boehner offered the president in their negotiations in 2011. the white house has consistently signaled a loss of of weeks that they will not accept any deal that keeps tax rates for the wealthy. >> russell burma is a staff writer for the hill. thank you. >> thank you. >> and you can go to our website c-span.org to read the letter that the president wrote to house rubble can survey. it was signed by house speaker john vader, majority leader eric cantor, and four others. a group
as clinton did, and raising two girls under an intense bubble and the way he divides up his time. he has never missed a parent-teacher conference. if the president of the united states has never missed a parent-teacher conference, we shouldn't either. >> you have drawn parallels between him and fidel castro. >> i never said that. castro never been elected to anything, never run for office or put his name in front of anyone. that's not what i have ever said. i have drawn parallels between where government dominates the economy and where the president and some in his party wants to take us. cuba isn't just about going -- getting beat up on the side of a church because you dared to speak out against the government. i'm not drawing that parallel. >> do you feel less free than you did four years ago? >> our future economic options are being significantly diminished by some of the choices that have been made by the president and his party. i'll give you a real world example and i talked about this last night, i'm blessed to have a chance at a federal savings account, federal savings account fo
clinton chief of staff, and alan simpson, former republican senator. and they came together and what the president called his deficit reduction commission to give the president and -- an idea what we could do to get our fiscal house in order. i want to show in you this chart, mr. speaker, it's the chronic deficits we have had in this country, goes back to 1970. all this red ink represents the inflation adjusted, 2012 dollars, comparing apples to apples across this chart, the deficit that is we have had in this country, and you see going back to 197 o 0, mr. speaker, which happens to be the year of my birth, we have run a deficit every single year from 199 . you remember 1998 we had newt gingrich leading the first republican u.s. house of representatives in modern times. bill clinton in the white house. they came together to solve some big problems. welfare reform, health insurance reform. folks forget about health insurance reform. we did away with pre-existing conditions. did away with all of the impediments in the large group markets, what they call the plans, had great success in
of the 1990's and earlier in the 1990's with president bush, before president clinton, and then thereafter with president bush who came after president clinton, sometimes economic policies say it's time for a rest. and those tax cuts, the top 1% and 2%, it is time for rest. and to be able to shore up, to say to every american that you will get a tax cut for $250,000 of your income which includes 97% of small businesses is a reasoned response to the changing economy and the protection of the safety net is a reasoned response to the changing economy and the recognition of the importance of social security, the recognition of the importance of medicare, medicaid and the recognition of the importance, if you're unemployed, extending the unemployment responds to the people who don't get their news on a regular streaming basis, they don't know what's going on up here. they're counting on us to stand in the gap and to make a difference in their life. some of them are working. some are on assistance, but they're not defined by anything that they are americans who love their country. and i hope as
in prevention have led to a turning point, the possibility, as secretary clinton said, and aids-free generation. however, cutting funding to international and domestic programs could very well turn back the clock. we must take action now to avoid the looming threat to more than one million americans, including more than 4,000 in my own district in illinois, who are living with hiv-aids. they can't afford the $538 million cut in sequestration that would affect our hiv-aids program. 15,708 people cannot afford to lose access to crucial lifesaving drugs. so let's stop these cuts and move forward towards an end to this epidemic. i yield back. the speaker pro tempore: the gentlelady's time has expired. for what purpose does the gentlelady from california seek recognition? >> to address the house for one minute. the speaker pro tempore: without objection, so ordered. ms. lee: thank you, mr. speaker. december 1 is world aids day. although every day is world aids day for the millions battling this epidemic on the frontlines. it's an important time, though, to reflect upon our loved one's lost, to celeb
Search Results 0 to 13 of about 14